Common use of Payment of Indebtedness; Performance of Other Obligations Clause in Contracts

Payment of Indebtedness; Performance of Other Obligations. Borrower shall pay all Indebtedness for borrowed money at maturity, all taxes, assessments and other governmental charges which may be levied or assessed upon Borrower, the Realty or the Collateral when due and all other obligations in accordance with customary trade practices, and comply with all acts, rules, regulations and orders of any legislative, administrative or judicial body or official applicable to the Collateral, the Realty or any part thereof or to the operation of Borrower's business; provided, however, that Borrower may in good faith by appropriate proceedings in good faith and with due diligence contest any such taxes, assessments, governmental charges, acts, rules, regulations, orders and directions that do not in Lender's judgment materially adversely affect the value of the Collateral, the Realty or the priority of Lender's lien in the Collateral or the Realty, and if requested by Lender, shall establish reserves reasonably satisfactory to Lender. Borrower shall also observe and remain in compliance with all laws, ordinances, governmental rules and regulations to which it is subject and obtain all licenses, permits, franchises or other governmental authorizations necessary to the ownership of its properties or the conduct of its business, and all covenants and conditions of all agreements and instruments to which Borrower is a party, which failure to comply or failure to obtain would materially and adversely affect the business, prospects, profits, properties or condition (financial or otherwise) of Borrower.

Payment of Indebtedness; Performance of Other Obligations. The Borrower shall pay all Indebtedness for borrowed money at maturity, all taxes, assessments and other governmental charges which may be levied or assessed upon Borrower, the Realty Borrower or the Collateral when due prior to their becoming delinquent and all other obligations in accordance with customary trade practices, and comply with all acts, rules, regulations and orders of any legislative, administrative or judicial body or official applicable to the Collateral, the Realty Collateral or any part thereof or to the operation of the Borrower's business; provided, however, that the Borrower may in good faith by appropriate proceedings in good faith and with due diligence contest any such taxes, assessments, governmental charges, acts, rules, regulations, orders and directions that do not in the Lender's judgment materially adversely affect the value of the Collateral, the Realty Collateral or the priority of Lender's lien Liens in the Collateral or the Realty, and if requested by Lender, shall establish reserves reasonably satisfactory to Lenderpriority of such Liens. The Borrower shall also observe and remain in compliance with all laws, ordinances, governmental rules and regulations to which it is subject and obtain all licenses, permits, franchises or other governmental authorizations necessary to the ownership of its properties or the conduct of its business, and all covenants and conditions of all agreements and instruments to which the Borrower is a party, which failure to comply or failure to obtain would materially and adversely affect the business, prospects, profits, properties or condition (financial or otherwise) of the Borrower, the Collateral, the Lender's Liens in the Collateral or the priority of such Liens.